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The airline announced Friday it would wait up to two years to place orders for new Airbus A380 superjumbo jets, which had been envisioned as a new flagship for British Airways' long-haul fleet, the Financial Times reported.
The new job cuts are to be carried out by March 2010 and British Airways' capital spending this year will be slashed from $1.2 billion to $948 million, the newspaper said.
The airline says it is trying to absorb hits to its revenues from slackening air travel demand, especially from business-class travelers, while also reeling from having to sell many more seats at a discount. The airline is also engaged in a stand-off with employees as it seeks to cut costs and raise productivity, the Financial Times said.
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